Required information CC9-1 (Algo) Accounting for the Use and Disposal of Long-Lived Assets [LO 9.3, LO 9-5] [The following information appies to the questionis displayed below] Nicole's Getawby Sps [NGS] purchosed a tydrotherapy tub system to add to the weiness programs at NaS. The machine wos purchased at the beginning of the year at a cost of $22.000. The estimated useful life was five years ond the resdual value wss $1,000. Assume that the estimated productive life of the mochine is 10,000 hours. Expected annual production was year 1, 2,400 hours; yeur 2,2,350 hours: year 3,2,150 hours: year 4,2,100 hours, and year 5,1,000 hours CC9-1 (Algo) Part 2 2. Assume NGS sold the hydrotherapy tub system for 56,600 at the end of year 3. Prepare the journal entry to account for the disposal of this asset under the three different methods. (Do not round intermediate calculations, If no entry is required for a transaction/event, select "No Journal Entry Hequired" in the first account field. Alound your final answers to the nearest dollar amount.] Journal entry worksheet 8c Record the disposal of the hydrotherapy tho system for $6,600 in year 3 assuming Gepreciation was calculated using the straight-line method. 2. Assume NGS sold the hydrotherapy tub system for $6.600 at the end of year 3 . Prepere the journa entry to acco of this asset under the three different mothods. gDo not round intermedlate calculations. If no entry is fequlired transaction/event, select "No Journal Entry Required" in the first account field. Round your final answera to amount.) Journal entry worksheet Record the disposal of the hyd otherapy tub system for 56,600 in year 3 assuming depreciation was calculated using the units et production method. Noce: tater debits before creats. 2. Assume NGS sold the hydrotherapy tub system for $6.600 at the end of year 3. Prepare the joumal entry to acee of this asset under the three different methods. (Do not round intermediate calculations. If no entry is required transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to t amount.) Journal entry worksheet Aecord the disposal of hydrotherapy tub system for $6,600 in year 3 assuming depreciation was calculated using the double-declining method. Note: Enter debits before credits. Required information CC9-1 (Algo) Accounting for the Use and Disposal of Long-Lived Assets [LO 9-3, LO 9-5] The following intormation apples to the questions displityed below.]. Nicole's Getaway Spo (NGS) purchased a trydrotherapy tub system to add to the weliness programs ot NGS. The machine was purchased at the beginning of the year at a cost of $22,000. The estimeted useful life was five years and the residual value was $1,000. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1,2,400 hours; yoar 2, 2,350 hours; year 3, 2,150 hours, year 4,2,100 hours, and year 5,1,000 hours. C9-1 (Algo) Part 3 Assume NGS sold the hydrotherapy tub system for $6,600 at the end of year 3 . The following amounts were forecast for yeas 3 : Soles Revenues $59,000; Cost of Goods Sold $46,000, Other Operating Expenses $4,500; and interest Expense $900, Create an income statement for year 3 for each of the differont depreciotion methods, ending at income before Income Tax Expense. (Don't forget to include a loss or gain on disposal for each method.) (Do not round intermediate calculations. Round your answers to the Sales Revenues $59.000; Cost of Goods Sold $46000; Ou at the end of year 3 . The following omounts were forecast for incame statement for year 3 for each of the different $46,000, Other Operating Expenses $4.500; and interest Expense $900. forget to include a loss or gain on disposal for each depreciation methods, nnding at Income before Income Tax Expens nearest dollar amount.)